BYU Marketing 201 Exam 1 with Verified Answers
1. BCG Growth-Share Cash Cow - High market share, low market Growth
Matrix Stars - High market share, high market growth
?'s - High market growth, Low market share
Dog - Low market growth, low market share
2. Corporate Strategy Asks the question - What businesses should we be in?
3. Strategic Business Asks - How do we compete effectively against the com-
Unit Strategy petitors?
4. Functional Strate- strategy by which managers in specific areas decide
gy how best to achieve corporate goals through productiv-
ity
5. Path to Profitability Marketing Environment--> Marketing Mix-->Capture
value-->Profits
6. The most powerful Brand Champions/Love Group
marketing strate-
gies begin by see-
ing the product
through the eyes of
7. Product Market Ex- market penetration -Existing product entering an exist-
pansion Matrix ing market
product development - New product entering into an
existing market market development - Existing product
entering into a new market
diversification - New product in a new market
8. Customer Lifetime approximate worth of a customer to a company in eco-
Value (CLV) nomic terms; overall profitability of an individual con-
sumer
9. How does market- by meeting customers functional and emotional needs
ing create value for
the customer?
10. Target Market
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, BYU Marketing 201 Exam 1 with Verified Answers
a set of buyers sharing common needs or characteris-
tics that the company decides to serve
12. What are the Customer Acquisition, Customer Retention, Sales per
four profitability Customer, margin
drivers?
13. What is Customer finding new, profitable ways to acquire customers that
Acquisition are higher-value
14. What is Customer To eliminate the root causes of customer defections,
Retention? develop loyalty initiatives and acquire more loyal cus-
tomers
15. What are sales per How much the customer purchases of your product. As
customer? a profitability driver it serves to increase their purchase
of the product
16. What are margins? They help to cut down unneeded costs and drive prof-
itability in the firm
17. Ways that the firm Reward customers, Fire customers, Identify cross-sell-
can drive profit ing and up-selling opportunities
21. Market Orientation Understanding customer needs, company capabilities,
knows competitors and wants to make a profit - Ex.
Amazon
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